How To Fix FARR_MSG_CUSTOM512 - ContAcqui cost can't be processed; Cost recog not defined for AcctPri &1.

FARR_MSG_CUSTOM512 - Overview

• Message type: E = Error

• Message class: FARR_MSG_CUSTOM - Customizable Messages for Revenue Accounting

• Message number: 512

• Message text: ContAcqui cost can't be processed; Cost recog not defined for AcctPri &1.

What causes this issue?

Accounting principle &v1& is not configured to perform cost recognition.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

If you want to define cost recognition for the accounting principle,
enable cost recognition for the accounting principle in Customizing:
<DS:SIMG.FARR_VC_ACCT_PR>Configure Accounting Principle-specific
Settings</>.
If you don't want to define cost recognition for the accounting
principle, mark the performance obligation as a standard performance
obligation and delete the condition type for contract acquisition cost
when the contract acquisition cost is handled at contract level. Delete
the condition type for contract acquisition cost when the contract
acquisition cost is handled at performance obligation level.
Note: If you don't want a certain accounting principle to perform cost
recognition, you can customize this message as a warning message or
simply switch this message off.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message FARR_MSG_CUSTOM512 - ContAcqui cost can't be processed; Cost recog not defined for AcctPri &1. ?

  The SAP error message FARR_MSG_CUSTOM512 indicates that there is an issue with the processing of acquisition costs in the Asset Accounting (FI-AA) module. Specifically, the error states that the cost recognition is not defined for the account specified (represented by &1 in the message).
  
  Cause:
  The error typically arises due to one of the following reasons:
  
  
  Missing Configuration: The cost recognition method for the specified account (Account Type) is not defined in the system. This can happen if the configuration for asset accounting is incomplete or incorrect.
  
  
  Incorrect Account Assignment: The account being referenced may not be set up correctly in the asset master data or in the configuration settings.
  
  
  Transaction Type Issues: The transaction type used for the acquisition may not be linked to the correct cost recognition method.
  
  
  
  Solution:
  To resolve this error, you can follow these steps:
  
  
  Check Configuration:
  
  Go to the configuration settings for Asset Accounting (Transaction code: SPRO).
  Navigate to Financial Accounting (New) > Asset